A Miami healthy living community being built by WSG Development Co. received a $386 million construction loan from Hypo Real Estate Capital Corp. yesterday, taking the oceanfront development one step closer to its late-2006 opening date.

Canyon Ranch Living - Miami Beach is a six-acre residential community with a 150-room hotel anchoring two condominium towers. Priced between $1.2 million and $9 million, the one-, two- and three-bedroom condos are nearly 100 percent sold. Sales of the oceanfront property have surpassed $500 million, according to Miami-based WSG Development.

WSG, which couldn't be reached for comment, said in a statement that Canyon Ranch Living is the first community of its kind, dedicated to providing health and wellness facilities for residents. Although there are other Canyon Ranch properties in Arizona, Las Vegas and Florida, the Miami Beach facility is the eponymous spa company's first residential venture.

---

Comments

Post a comment

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)